In addition to the other attorney's response, although by law the power of attorney doesn't necessarily expire, banks and financial institutions are notorious for not honoring powers of attorney that are more than a few years old. In other words, its a good idea to have them "refreshed" every once...Read more »
Usually. Even people who take self-help routes will incur fees for form documents or software programs. This is a very important part of life planning for most people. Lots of money and heartache can actually be saved by doing it right. If you want advice to do it right, you will need to work with...Read more »
Besides what my colleague has already said... Estate planning is not just about what happens at the death of one spouse, but also about what happens when the second spouse dies and what happens if either of you become incapacitated. Titling assets jointly covers you for the death of one spouse, but...Read more »
If the will was validly created in another state, it will be valid here in Arizona. However, moving to a new state can bring up differences of administration and other things - so it might be worth contacting an Arizona estate planning attorney to review your will and ancillary documents.
If you both name each other as the sole primary beneficiary of your IRAs, then when the first of you dies, that deceased-spouse's IRA will NOT be part of the probate estate, but will pass by operation of law to the designated beneficiary (in this case, the surviving spouse). If that is not your...Read more »
The morgage on it is expiring and I need to put the house in my name and refiance. I have lived here since 1960. all utilites are in my name I pay all the bills house payment and taxes and repaires. How can I put the house in my name.
The answer to this question may be more complex than you were anticipating. I suggest that you contact a probate attorney near you to talk about your options. Among other things, the attorney will want to know if your father had a will that covered this house, how the house was titled, the value of...Read more »
My Uncle on my mothers side passed away. He had a Will that had my Grandfather listed, but all family passed away except me. I received a check via probate 3 years ago. Today the attorney called me and said I need to sign a release form and they will be mailing more court documents. What is this... Read more »
If your father made his will in Arizona prior to 1984, then itmight be deposited with the probate registrar in the county where he made that will. For most people however, the best way to find a deceased person's will is to look through the deceased's house, safe deposit box, and storage. If you...Read more »
My mother-in-law and my husband (her son, of course) have a very strained relationship, which recently came to a tipping point, thus forcing my husband to sever their relationship. He is the only known beneficiary of his mother's (very small) "estate". Is he obligated, by Arizona law, to accept the... Read more »
No, a beneficiary is not obligated under Arizona law to accept items left to him/her in a will. And, yes, it is possible to disclaim an inheritance. However, one cannot disclaim a gift or inheritance until the gift or transfer is actually attempted. In the case of inheritance, this is only after...Read more »
There was no will and his father lived in Arizona. We also have 3 adult children and 1 minor child. Does this change anything? Are our sons still his grandchildren and receive their dad's portion of the estate? I was my husband next of kin.
When someone dies without a will, they are said to die "intestate." When this happens Arizona's laws of intestacy dictate who will inherit that person's estate. Based on the limited information provided here, in the case of your former father-in-law, unless you bear some other relationship to him...Read more »
I am answering the question under the following assumptions: (1) your house is properly titled to your trust, (2) your trust has been properly prepared to meet your wishes, and (3) you are the current trustee. If so, then insuring the house is fairly straight forward. Just be sure to contact your...Read more »
My husband and I got a Trust many years ago and we were living in California at the time. Since then my husband passed away (2000) and I moved to Arizona to be near my children. Do I have to do anything to the Trust, now that I live in Arizona?
Moving from one state to another does not necessarily mean the trust needs to be updated. That being said, an attorney would need to review the trust and your circumstances before giving any advice as to whether any further action on your part would be needed. I recommend that you contact an estate...Read more »
My father passed earlier this year and left no will. My father jointly owns 13.36 acres with my stepmother, she has two sons with my father. Due to the fact that there is no will do I inherit any of the property and how much?
I apologize for the delay in answering this question. Assuming your step-mother is still alive - If your father owned the property jointly with your step-mother as joint tenants with rights of survivorship, then you will not be entitled to any portion of that property. If your father owned is with...Read more »
There are very specific legal guidelines that a person must follow when he or she takes on the role of executor (or Personal Representative). One of the requirements is to provide certain notices to beneficiaries. In order to make sure you do not run into legal trouble, I recommend you seek the...Read more »
While appealing a judges ruling may be available to you, without more facts, it is impossible to give any advice regarding whether appealing would be a good idea or even an option here. You ought to seek the counsel of an experienced probate attorney, specifically one who handles appeals and see...Read more »
My parents wanted their Trust to split their inheritance between their four direct children. In reading the document there is language like the above that we can't decipher because the "living issue of a deceased child" sounds so confusing. Can you shed some light on what that phrase means? And if... Read more »
Just because the term "grandchildren" or "grandchild" isn't specifically mentioned, doesn't mean they can't be beneficiaries in certain circumstances. The term "issue" is usually a term defined within the trust agreement. Even so, it usually means lineal descendants such as children, grandchildren...Read more »
Neither. An irrevocable trust should have its own tax ID number separate from the grantor and any beneficiary. When the irrevocable trust is set up, the trustee should apply for a federal tax ID on behalf of that trust. This can be done quickly online through the IRS website.
The answer to your question depends largely on a couple of things: 1) what are your estate planning goals? and 2) how much are those assets worth? Goals: if your goal is to avoid probate, the short answer is to transfer these assets into the trust. But, as with most legal questions, there are...Read more »
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